Professional
Added to YB: 2024-02-08
Pitch date: 2024-02-08
SHCO [bearish]
Soho House & Co Inc.
-55.85%
current return
Author Info
Glasshouse Research is a team of forensic accountants/analysts on the look out for fraudulent companies. Visit the website.
Company Info
Soho House & Co Inc. operates a global membership platform of physical and digital spaces that connects a group of members in the United Kingdom, the Americas, Europe, and internationally.
Market Cap
$1.7B
Pitch Price
$5.73
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.63
P/E
-21.77
EV/Sales
3.18
Sector
Hotels, Restaurants and Leisure
Category
special_situation
[SHORT] Soho House: A Company Facing an Existential Crisis
SHCO: Broken biz model, artificial EBITDA gains via accounting gimmicks; FCF -$54M TTM despite touting adj EBITDA +$119M; debt rising to $2.2B w/ majority due 2027; Altman Z-score of -0.05 in distress zone; see $0 PT as likely will need to massively dilute to pay off debt.
Read full article (25 min)